Goldman Sachs may be one of the last firms standing as a rocky romance between Wall Street and raw material markets turns sour.» Read More
NEW YORK/ LONDON, Dec 6- Just over three decades ago, Goldman Sachs bought a niche coffee-and-gold trading firm called J. Aron& Company, becoming one of the first banks to enter the commodity markets. On Thursday, Deutsche Bank, one of the five biggest players of the past decade, said it would quit commodities trading under regulatory pressure, cutting 200 jobs.
Consumers have feasted on discounts this holiday season, but it means thinner profit margins for retailers.
NEW YORK, Dec 6- Consumers have feasted on discounts this holiday season, but it means thinner profit margins for retailers from Wal-Mart Stores Inc to Neiman Marcus, and car makers, a red flag for investors who have ridden a sector rally all year.
*Australia, S.Korea just signed free trade agreement. SEOUL/ SYDNEY, Dec 6- General Motors Co may consider shipping more South Korean-made cars to Australia, a source said on Friday, as part of a global restructuring that will see its Chevrolet brand in Europe dropped and production in Australia potentially scrapped.
*Apple climbs after China Mobile says iPhone talks continue. *J.C. Penney falls on Morgan Stanley note. NEW YORK, Dec 5- U.S. stocks fell on Thursday, with the Dow and S&P 500 dropping for a fifth straight session after a round of mixed economic data left traders guessing as to when the Federal Reserve would begin to slow its stimulus program.
NEW YORK, Dec 5- Morgan Stanley is offering its brokers an unusual pay incentive over the next two years to convince certain clients to disclose assets held outside the firm, according to the firm's 2014 compensation plan unveiled this week.
*Apple hits 52- week high after China Mobile comments. *J.C. Penney falls on Morgan Stanley note. NEW YORK, Dec 5- U.S. stocks edged lower on Thursday after a round of mixed economic data left traders guessing how soon the Federal Reserve would begin to wind down an asset-purchase program that has helped equities rally.
LONDON, Dec 5- Retailers and telecoms led European shares lower on Thursday as recent strong economic data heightened worries over the potential for an early winding down of equity-friendly stimulus.
LONDON, Dec 5- European shares extended losses early on Thursday as investors continued to trim positions in light of stronger economic data that has heightened worries over the potential for an early winding down of equity-friendly stimulus.
NEW YORK, Dec 4- The 2014 compensation plan that Merrill Lynch introduced on Wednesday rewards brokers who work in teams and pays them a premium for attracting money from wealthy clients that is put into trusts.
Graseck also has an "Overweight" rating on Bank of America Corp., Regions Financial Corp., JPMorgan Chase& Co., and Citigroup Inc. She raised her price targets for the latter two stocks, and said Bank of America, Citigroup, and JPMorgan are her top picks in the sector.
WASHINGTON, Dec 4- A U.S. lawmaker critical of Wall Street is pushing the nation's six largest banks to voluntarily disclose their donations to think tanks, saying that not doing so threatens the credibility and research of these policy groups.
NEW YORK, Dec 4- Just a few years ago, Morgan Stanley lacked the expertise, infrastructure or desire to do a lot of lending, but today it is making a big push into loans to bridge a profit gap with rivals.
WASHINGTON, Dec 3- Wall Street banks will get the final decision about a controversial ban on betting with their own money next week after years of debate, as three U.S. regulators each announced meetings to vote on the Volcker rule.
*Amazon shares drop, with holiday shopping in focus. *Yum Brands stock falls after company says Nov China sales flat. Amazon.com Inc slipped 2 percent to $384.66 and was one of the biggest drags on the S&P 500. The S&P retail index shed 0.8 percent after the holiday shopping season got off to a tepid start.
*Tesla's stock jumps after Morgan Stanley names it a top pick. *Amazon.com shares down, with holiday shopping in focus. Shares of Ford Motor declined 3 percent to $16.54 while shares of General Motors were down 2.7 percent at $38.04 even as November auto sales for most companies exceeded expectations.
The electric car maker said late Monday that German regulators notified the company that they were closing their investigation into post-crash fires in Washington, Tennessee and Mexico and would take no further action. Shares of Tesla Motors Inc. jumped $17.51, or 14 percent, to $141.58 in afternoon trading.
WASHINGTON, Dec 3- The U.S. swaps regulator said on Tuesday it plans to vote on the Volcker rule next week, giving Wall Street banks clarity about the controversial ban on betting with their own money after years of debate.
*Yum Brands' November China sales flat, sending shares down. Apple up after Topsy buy, UBS upgrade. NEW YORK, Dec 3- U.S. stocks fell on Tuesday, sending the S&P 500 index lower for three straight sessions, as investors speculated the Federal Reserve may move to trim its stimulus earlier than some had anticipated.
*Forest Labs rallies after comments; 3 M falls after downgrade. NEW YORK, Dec 2- U.S. stocks closed lower on Monday, with investors unable to find new reasons to keep pushing shares higher after eight straight weeks of gains, while the mining sector slid alongside sharp drops in precious metals prices.